Lending up as UK house price growth increases

UK house price growth accelerated to a six-month high, according to the UK Nationwide Building Society, as a separate report showed mortgage lending rising by the most since 2008.

The average price of a home increased 0.6% to £196,807 (€272,843) in October following a 0.5% gain the previous month, the lender said yesterday.

The annual rate of growth quickened to 3.9% from 3.8%.